Posts Tagged “cbix”

2017 saw a meteoric rise in the price of Bitcoin, closing the year off its all-time high but registering a gain of close to 1400%. Over $1.6 Billion traded on BTC/CAD trading pairs monitored as part of the Canadian Bitcoin Index.

If 2015 were a good year for Bitcoin then 2016 was exceptional. Bitcoin made a new all-time high exceeding the prior high of $1136.86 made in December 2013, reaching a peak of $1340.43 closing the year just off that mark at $1317.33.

Bitcoin’s history of volatility is legendary with periods during late 2013 where there were daily changes of over 40% in either direction. However, since that time Bitcoin’s volatility has gradually decreased to the point where now it is at an all time low and more comparable to other assets such as Gold.

There are many ways to measure the size of the Bitcoin such as the number of transactions or total transaction volume. However, these are not easily comparable to other assets and so typically the size of Bitcoin is expressed as its market capitalization, which is simply the total $ value of all the Bitcoins that exist. Using the market capitalization (also known as market cap) value we are able to compare the scale of Bitcoin with other cryptocurrencies, gold, stocks or any other asset class.

2015 saw increasing competition for your Canadian Dollar (CAD) when buying Bitcoin. Led by Quadriga CX, it was a tumultuous year where we saw exchanges come (Taurus, Coinsquare), go (Vault of Satoshi) and established non-Canadian domiciled exchanges expand into the Canadian Dollar market (Kraken, Coinbase) as well as Vancouver-based Cointrader finally opening a CAD orderbook. And then there was Cavitex… announcing it’s closure in February only to reopen following a Coinsetter acquisition.